May 18, 2023
Silver X Mining Publishes Inaugural Sustainability Report
Vancouver, BC, May 18, 2023 – Silver X Mining Corp. (TSX-V: AGX) (OTCQB: AGXPF) (F: AGX) (“Silver X” or the “Company”) is pleased to announce the publishing of its inaugural Sustainability Report for the year ended December 31, 2022 (the “Sustainability Report”), highlighting the Company’s approach and commitment to sustainable development through mining.
“At Silver X, sustainability is truly at the heart of how we operate our projects and within our communities,” stated José M. García, President and CEO of Silver X. “As a small organization, taking the right actions at every step of our growth is key, ensuring that we not only prioritize economic benefit but also consider our environmental and social influence. Commitment to collaboration has been the cornerstone of our success so far and it will continue to be even more important as we expand. As you will see in the pages of the report, we take this responsibility very seriously. We aim to create a positive legacy from our activities for stakeholders now and well into the future.”
2022 Sustainability Performance Highlights
- Established a sustainable development agenda in alignment with the United Nations Sustainable Development Goals.
- Achieved 100% compliance with environmental requirements applicable to the Company and performed in compliance with the International Council of Mining & Metals Conservation of Biodiversity Principle.
- Recirculated 99% of the water used in the Company’s underground operations and 72% used in processing activities and achieved its goal of zero incidents related to water quality during the year.
- Established an Occupational Health and Safety Management Program based on ISO 45 001: 2018 and implemented 146 health and safety training sessions for employees.
- Improved professionalization of the local community by committing to hiring locally, resulting in 55% of our non-professional workforce coming from the Huachocolpa community.
- Contributed $2.7 million to the local economy through the purchase of goods and services from local suppliers.
- Established the Huachocolpa Foundation, an entity with the purpose of overseeing and implementing a number of programs focused on sustainable development for the surrounding community.
The 2022 Sustainability Report can be found on the Company’s website at
https://www.silverxmining.com/sustainable-development.
About Silver X
Silver X is a growing silver producer building a multi-asset precious metals platform in Peru. The Company’s portfolio includes the Nueva Recuperada Project, a district-scale land package of 20,795 hectares with two mining units and over 200 exploration targets, as well as the recently acquired Pampas Project, which adds further scale and long-term growth potential.
Current production from the Tangana Mining Unit is increasing alongside the planned restart of the Plata, Red Silver and Blenda Rubia mines, supporting a path toward approximately 6 million AgEq ounces annually by 2029. The addition of the Pampas Project strengthens the Company’s asset base and enhances its ability to grow into a district-wide, multi-asset operator.
With existing production, scalable expansion opportunities, and significant exploration upside across multiple assets, Silver X is positioning itself as a next-generation silver company focused on growth, diversification, and long-term value creation.
On Behalf of the Board
José M. García
CEO and Director
For further information, please contact:
Susan Xu
Investor Relations
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation (“forward-looking information”). Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information contained in this press release may include, without limitation, the Company’s exploration and drilling plans at the Red Silver Project, the objectives, phasing and expected results of the drill program, potential Mineral Resource expansion or resource classification upgrades, and the expected performance of the Company.
The following are some of the assumptions upon which forward-looking information is based: that general business and economic conditions will not change in a material adverse manner; demand for, and stable or improving prices of, the commodities produced by the Company; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute, equipment failure or other disruption affecting its operations; the availability of financing for exploration, development and operations; the Company’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; that the estimates of mineral resources and the geological, operational and price assumptions on which they are based are within reasonable bounds of accuracy; the Company’s ability to attract and retain qualified personnel; and the ability of management to execute its business strategy.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, without limitation, risks related to exploration and development activities, mineral resource estimation, geological interpretation, permitting, financing, commodity price fluctuations, operating risks, changes in laws and regulations, and the risks described in the Company’s annual and interim MD&As and other public filings available on SEDAR+ at www.sedarplus.ca. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
